Sectionย 2. Chapterย 7
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Challenge: Generate Amortization Schedule
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Task
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Given a loan's principal, annual interest rate, and term in months, create a function that calculates the monthly payment and builds a pandas DataFrame showing the amortization schedule, with each month's payment broken down into principal and interest, and the remaining balance.
- Calculate the monthly payment using the amortization formula.
- For each month, determine the interest portion and principal portion of the payment.
- Update the remaining balance after each payment.
- Build a pandas DataFrame containing columns for month, payment, principal, interest, and remaining balance.
- Return the DataFrame.
Solution
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Sectionย 2. Chapterย 7
single
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